India dominates the global market for spice oleoresin, which is in big demand from processed food and fragrance industries that now mostly prefer natural colouring and flavouring agents to artificial ones as consumers become increasingly health conscious.
India controls 60% of the 13,500-tonne global spice oleoresins market even as China has emerged as a strong contender in paprika oleoresin, the most in-demand spice oil. Oleoresins and spice oils are preeminent in the food & beverage industry. Oleoresins are botanical extracts, amalgamating essential oil and resin constituents. They are non-volatile or volatile compounds obtained from spices using solvents. Oleoresins have found multi-pronged applications in the food industry. These range from coloring agents in butter, meat, cheese & snacks, jellies, jams& gelatin preparations, poultry feeds and frozen foods. Additionally, they have forayed into the healthcare and personal care industry as well. Possessing properties akin to conventional spices, oleoresins are effective substitutes providing equally effective texture, aroma and flavor. Moreover, they are easy to store and transport due to their highly concentrated nature leading to immense bulk and space savings. Based on the aforementioned trends, the global spice oils market and oleoresins market is likely to amplify steadily across the 2020-2030 decade’s forecast period.
"The advantages of using oleoresins in flavours and seasonings are manifold. They enhance the visual appeal and flavour, and increase the shelf life of the products," says George Paul, director of Synthite Industries, the largest oleoresin extraction firm in India. They are more economical than whole or ground spices as less quantity can give the same effect,"
Extraction of oils and oleoresins was first developed in Germany and was commercialised in the early twentieth century. One of the leading companies at present, Kancor Ingredients was the first to start operation in India in 1969 as Bombay Oil Industries when it began manufacturing oleoresin of black pepper. Synthite followed three years later while Plant Lipids, the second-biggest player, went on stream in 1979.
Unlike western technology, which gave oleoresin as a single extract, the Indian extraction procedure developed by Central Food Technological Research Institute made it a two-stage process with the separation of essential oil.
Venkatramna Industries produces 1MT of Spice oils 20% of them are exported and 80% is distributed domestically. In recent years spice oil demand increased aggresively by FMCG companies.
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